Insider Selling: Markwest Energy Partners EVP Unloads 3,400 Shares of Stock (MWE)
Markwest Energy Partners (NYSE:MWE) EVP Randy S. Nickerson sold 3,400 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $65.00, for a total value of $221,000.00. Following the completion of the sale, the executive vice president now directly owns 222,309 shares in the company, valued at approximately $14,450,085. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Markwest Energy Partners (NYSE:MWE) traded up 2.37% on Friday, hitting $64.79. 1,084,395 shares of the company’s stock traded hands. Markwest Energy Partners has a 52 week low of $58.62 and a 52 week high of $75.79. The stock’s 50-day moving average is $63.07 and its 200-day moving average is $65.81. The company has a market cap of $10.527 billion and a P/E ratio of 164.82.
Markwest Energy Partners (NYSE:MWE) last released its earnings data on Wednesday, May 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.17. The company had revenue of $512.50 million for the quarter, compared to the consensus estimate of $543.04 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 37.3% on a year-over-year basis. Analysts expect that Markwest Energy Partners will post $0.88 EPS for the current fiscal year.
A number of analysts have recently weighed in on MWE shares. Analysts at Global Hunter Securities initiated coverage on shares of Markwest Energy Partners in a research note on Tuesday. They set a “buy” rating and a $70.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Markwest Energy Partners from $72.00 to $70.00 in a research note on Friday, May 9th. Finally, analysts at Credit Suisse raised their price target on shares of Markwest Energy Partners from $80.00 to $82.00 in a research note on Friday, May 9th. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $71.20.
MarkWest Energy Partners, L.P. (NYSE:MWE) is a master limited partnership engaged in the gathering, processing and transportation of natural gas; the transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering and transportation of crude oil.
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